The highlights of the accounts are as follows:

• Turnover at a record level (£2,740K) compared to the previous year (£2,080K);
• Earnings before interest, taxes, depreciation, and amortisation (EBITDA) were £588K (previous year £203K loss).

The increase in turnover and profit is largely due to a club record FA Cup run, where the Stones reached the fifth round of the world-famous competition, beating clubs such as Torquay United, Barrow, Stevenage, and most memorably Ipswich Town at Portman Road. Total prize and broadcast income was £629K, in addition to net FA Cup matchday income.

This extraordinary income helped to cover underlying losses for the second season running and made a huge positive difference to cash flow.

It has enabled the stadium’s 3G pitch to be replaced at a cost of £214K, covered the two previous seasons’ underlying losses, and enabled the launch and funding of a number of projects around the stadium, with the help of Football Foundation grants. Player bonuses and corporation taxes have also effectively been paid from this income stream too.

Joint-Owner Oliver Ash said: “It was an amazing season on the field to the delight of our supporters and the additional income has been very welcome to the club, as it enables playing budgets to be kept at the highest possible level. Sometimes we have to remind ourselves that the club was effectively bankrupt when we took over in 2010. Since then we have all enjoyed an incredible ride with some unforgettable moments on the field and we now have a strong, stable, community club, of which all supporters can be immensely proud.

“In terms of financing the business it is simple: we aim to operate profitably so that we can constitute a reserve, mainly for capital projects, while ensuring that every surplus pound generated by the club’s operations goes towards the playing budgets.”

Joint-Owner Terry Casey said: “As we head towards our 15-year anniversary as owners we have been trying to increase our income streams and improve the efficiency of operations around the club with the intention of maximising the playing budget. With inflation of player wages this is a constant challenge.

“The club is increasingly well-run and we thank all our staff, officials, and volunteers for their considerable and loyal efforts. We have made some positive changes to the stadium operations such as with our segregation reboot and new video gantry and we are progressing with other renovation and renewal projects as best and as quickly as we can under all the circumstances.

“Finally, we are not getting any younger! We are still looking to sell the club to suitable investors. Over the past few years we have been looking for one single person or group to take over, but this has proven unsuccessful for various reasons. We are now looking at widening the search to include those investors who may wish to buy a minority stake in the club (or less than 100%) and join other investors in sharing the challenge of running the club and taking it forward. We have been approached by some investors already in this respect and are now inviting interest from others. We are also intending to investigate whether it could be feasible for supporters to invest smaller amounts in the club via a supporters’ trust fund.

“In the meantime, we remain committed owners and supporters and will continue our efforts to keep the club operating as successfully and sustainably as possible.”

Any persons wishing to enquire further about opportunities to invest in Maidstone United are invited in the first instance to email ian.tucker@maidstoneunited.co.uk.